The national average price of gasoline (regular unleaded, incl. taxes) dropped more than a penny to $1.47 per gallon as of June 2, according to U.S. Energy Information Administration (EIA) data. The average price of gas has decreased for 10 of the last 11 weeks. The average price per gallon inched up less than a penny on May 19. The current average is around eight cents below the agency's summer (April-Sept.) forecast of $1.56 per gallon. The EIA is a statistical agency of the U.S. Department of Energy. Although below the 2003 summer forecast, the June 2nd average is still more than eight cents higher than the same time last year.

Originally posted on Fleet Financials